Medical care commodities priced at$110 in 1970→$892.80 in 2017

Medical Care Commodities Inflation Calculator

Prices for Medical Care Commodities, 1970-2017 ($110)

According to the U.S. Bureau of Labor Statistics, prices for medical care commodities were
711.64% higher
in 2017 versus 1970 (a $782.80 difference in value).

Between 1970 and 2017:Medical care commodities experienced an average inflation rate of 4.56% per year.
This rate of change indicates significant inflation.
In other words, medical care commodities costing $110 in the year 1970 would cost $892.80 in 2017 for an equivalent purchase.
Compared to the overall inflation rate of 4.00% during this same period, inflation for medical care commodities was
higher.

In the year 1970: Pricing changed by 2.25%, which is
below the average yearly
change for medical care commodities during the 1970-2017 time period.
Compared to inflation for all items in 1970 (5.83%), inflation for medical care commodities was
much lower.

Price Inflation for Medical care commodities since 1935

Consumer Price Index, U.S. Bureau of Labor Statistics

Years with the largest changes in pricing:
1981 (10.92%),
1982 (10.29%),
and 1980 (9.34%).

Buying power of $110 since 1970

Below are calculations of equivalent buying power for Medical care commodities, over time, for $110 beginning in 1970. Each of the amounts below is equivalent in terms of what it could buy at the time:

How to calculate the inflation rate for medical care commodities, 1970-2017

Start with the inflation rate formula:

CPI in 2017 / CPI in 1970* 1970 USD value = 2017 USD value

Then plug in historical CPI values from above. The CPI for Medical care commodities was 46.454 in the year 1970 and 377.038 in 2017:

377.038 / 46.454* $110 = $892.80

Therefore, according to U.S. Bureau of Labor Statistics, $110 in 1970 has the same "purchasing power" as $892.80 in 2017 (in the CPI category of Medical care commodities).

Source: U.S. Bureau of Labor Statistics began tracking the Consumer Price Index for Medical care commodities in 1935. In addition to medical care commodities, the index produces monthly data on changes in prices paid by urban consumers for a variety of goods and services.